Oil prices floated near USD 88 a barrel Friday in Asia, with losses tempered by hopes of strong growth in demand for crude and Europe’s progress in containing its debt crisis.
On the New York Mercantile Exchange, Benchmark oil for January delivery was downhill 35 cents to USD 87.60 a barrel at late afternoon Kuala Lumpur time in electronic trading. On Thursday, The contract raised USD 1.25 to settle at USD 88 a barrel, just shy of the 2010 high of USD 88.29.
Heating oil cut down 1 cent to USD 2.45 a gallon whereas gasoline shed 1 cent to USD 2.35. Natural gas knock downhill 1.1 cent to USD 4.33 per 1,000 cubic feet, in other Nymex trading in January contracts.
On the ICE futures exchange, In London, Brent crude knock out 18 cents to USD 90.51 a barrel
- Oil drops under USD 88 a barrel
- Oil drops under USD 88 a barrel
- Chana turns down at Delhi Mandi
- EIA Crude Inventories fall, Distillates Edge upbeat
- Crude Reluctant to diverge much from $90
- From Two Year Lows, US initial unemployed Claims Edge upbeat
- US Pending Home Sales Extend Rebound from summer low down
- Till Q1 Next Year, ECB's Short Term Liquidity Measures Extended
- Apex court supports delicensing of sugar industry
- Oil floats close to USD 87 a barrel
